@grauce
Bitcoin often reacts to macro liquidity conditions, and higher U.S. Treasury yields increase opportunity cost for holding non-yielding assets. When yields climb, capital shifts from risk assets to government bonds, reducing BTC’s appeal. Historically, sharp yield spikes coincided with BTC pullbacks, though not always causally. ETF inflows and retail momentum can counteract this effect temporarily. Traders should monitor yield curves alongside funding rates. The broader question: will BTC increasingly behave like a risk-on asset, or retain a partial safe-haven role? Yield trends remain a critical macro input for valuation models.
0 reply
0 recast
0 reaction